§ 11-8. Premiums and premium equivalents.

(a) Annual report.

(1) In general.

After the City receives from its consultant the projected premiums and projected premium equivalent rates for the upcoming plan year, the City shall release to the consultant for the exclusive employee organizations, MAPS, and retirees:

(i) the formula, methods, and data used by the City's consultant to build rate projections for the ensuing plan year;

(ii) a report containing the projected premiums and premium equivalent rates for each provider plan within the Program for the upcoming plan year, including:

(A) self-insured plans; and

(B) vendor-insured plans; and

(iii) any available supporting data.

(b) Request for meeting.

(1) In general.

The exclusive employee organizations, MAPS, and retirees or their consultant may request a meeting with the City or City's consultant concerning the proposed premium or premium equivalent rates.

(2) Request timeline.

The exclusive employee organizations, MAPS, and retirees must request a meeting described in paragraph (1) of this subsection:

(i) in writing;

(ii) no later than 15 days following the disclosure of the proposed rates; and

(iii) no later than September 10, provided that the annual report required by this section is delivered to the exclusive employee organizations, MAPS, retirees, and their consultant prior to August 25.

(3) Meeting timeline.

The meeting described in paragraph (1) of this subsection shall be held at least 15 days prior to the submission of the proposed rates to the Board of Estimates.

(4) City's response timeline.

At least 10 days before the submission of the proposed rates to the Board of Estimates, the City shall consider and respond in writing to the exclusive employee organizations, MAPS, retirees, and their consultant regarding the proposed rates.